EURUSD Chart 4

EURUSD - Longer Term Bullish

EURUSD - LONGER TERM BULLISH by DanV on TradingView.com

30 November 2012

Updates and comments

Many seem to think that EURUSD will fall back to July Low. I think that EUR has formed larger wave 4 bottom at 1.2660 and will now continue higher in 5 waves which could lead to retest of Sept high and possibly make new higher high.

Having said that after completion of minor 5 waves up of the 1.2660 low, natural retracement to 1.2870 - 1.2800 is expected, before continuing higher. Note my reasoning behind the expectation as I compare it directly with Dollar Index.

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